Paysign, Inc. (NASDAQ:PAYS) Short Interest Up 36.7% in March

Paysign, Inc. (NASDAQ:PAYS) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 2,289,773 shares, an increase of 36.7% from the March 15th total of 1,675,040 shares. Currently, 5.5% of the company’s stock are short sold. Based on an average daily volume of 1,854,543 shares, the short-interest ratio is currently 1.2 days.

Analysts Set New Price Targets

Several research firms have recently commented on PAYS. DA Davidson reissued a “buy” rating and issued a $9.00 price target on shares of Paysign in a research report on Thursday, March 26th. Wall Street Zen raised Paysign from a “hold” rating to a “buy” rating in a research report on Monday, March 30th. Lake Street Capital boosted their price target on Paysign from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paysign in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Paysign has an average rating of “Moderate Buy” and a consensus target price of $9.42.

Paysign Trading Up 1.4%

Shares of PAYS traded up $0.08 during trading hours on Wednesday, hitting $5.80. The company had a trading volume of 467,859 shares, compared to its average volume of 1,552,001. The company has a market capitalization of $320.10 million, a PE ratio of 44.62 and a beta of 0.64. Paysign has a one year low of $2.03 and a one year high of $8.88. The company’s fifty day moving average price is $4.19 and its two-hundred day moving average price is $4.84.

Paysign (NASDAQ:PAYS) last announced its earnings results on Tuesday, March 24th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Paysign had a return on equity of 17.19% and a net margin of 9.21%.The business had revenue of $22.76 million for the quarter, compared to analysts’ expectations of $21.54 million. Analysts forecast that Paysign will post 0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its stake in Paysign by 381.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 9,876 shares of the company’s stock worth $51,000 after buying an additional 7,825 shares during the last quarter. Invesco Ltd. grew its stake in Paysign by 44.7% during the 4th quarter. Invesco Ltd. now owns 24,412 shares of the company’s stock worth $126,000 after buying an additional 7,537 shares during the last quarter. Engineers Gate Manager LP grew its stake in Paysign by 138.3% during the 4th quarter. Engineers Gate Manager LP now owns 34,063 shares of the company’s stock worth $175,000 after buying an additional 19,769 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Paysign by 11.2% during the 4th quarter. Russell Investments Group Ltd. now owns 53,345 shares of the company’s stock worth $275,000 after buying an additional 5,359 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in Paysign by 164.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,462,560 shares of the company’s stock worth $7,532,000 after buying an additional 909,825 shares during the last quarter. 25.89% of the stock is currently owned by hedge funds and other institutional investors.

About Paysign

Paysign, Inc (NASDAQ:PAYS) is a U.S.-based financial technology company specializing in prepaid payment solutions. Through its cloud-based platform, the company enables corporations, government agencies and payroll providers to issue and manage stored-value cards, digital wallets and disbursement programs. Paysign’s offerings span gift and incentive cards, payroll and earned-wage access cards, government benefit distribution, tax refund solutions and health savings account disbursements.

The company’s flagship Paysign Experience Platform provides configurable card programs with real-time transaction reporting, fraud monitoring and regulatory compliance tools.